Tariffs, Equity, and Looking Ahead to Spring
The real estate market never sleeps, even in the depths of winter! As we bundle up against the snow and dream of spring gardens, I wanted to address some of your most pressing questions – especially about those tariff discussions making headlines. Let's dive into what this could mean for homeowners and buyers in our area, along with a peek at what's happening in our local market.
A lot has happened since we last touched base. I hope you are well, and surviving this snowy winter (I am starting to dream of spring).
I have been fielding a lot of questions in regards to what the tariff chatter would do to housing if implemented… so I want to start there.
First off, if you already own your home, it won’t hurt the equity you have. In fact, the average home equity value nation wide is $311,000 (as of January of 2025). This is nationally, so imagine what yours might be in the North East.
The tariffs being discussed that could impact housing: Canada, China, and Mexico. Think trees for framing, steel, and gypsum (the primary component in concrete). If you are wanting a new construction home, or planning big projects for the home you have, it might be a good idea to jump on in. I do expect to see prices go up if implemented, so why wait?
Our inventory is still very low, but I expect an active spring market! There seem to be a lot of people ready to move from their starter homes, which is a good sign for inventory. It is still a sellers market though, so if you are on the fence- now is the time.
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